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UPDATE: Comcast Q4 Net Profit Up 18%

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Comcast (NASDAQ: CMCSA) reported an 18% rise in its fourth-quarter net income.

Comcast's quarterly earnings surged to $1.52 billion, or $0.56 per share, from $1.29 billion, or $0.47 per share, in the year-ago period. Its adjusted earnings came in at $0.52 per share.

Its revenue climbed 6% to $15.94 billion from $15.04 billion. However, analysts were expecting earnings of $0.54 per share on revenue of $16.01 billion.

Comcast also announced its plans to acquire General Electric's (NYSE: GE) 49% equity stake in their NBCUniversal joint venture.

Comcast shares gained 7.13% to $41.75 in after-hours trading.

Posted-In: profitEarnings News M&A

 

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